Monday, September 15, 2014

Mexican telecom company America Movil has reached out to AT&T Inc and Japan's SoftBank Corp as it looks to sell assets along the east coast of Mexico that could fetch as much as $17.5 billion, Bloomberg reported, citing people with knowledge of the matter. The company has also approached BCE Inc's Bell Canada and China Mobile Ltd , the report cited a source as saying. (bloom.bg/1uASj2W)America Movil, owned by billionaire Carlos Slim, is preparing to divest assets in an unprecedented step to cut its market share in Mexican telecoms below 50 percent and escape the burden of tougher regulations.America Movil, AT&T and Softbank could not immediately be reached for comment.

AT&T Inc. (AT&T), is a holding company. The Company is a provider of telecommunications services. Shares of T traded higher by 0.52% or $0.18/share to $34.68. In the past year, the shares have traded as low as $31.74 and as high as $37.48. On average, 19765100 shares of T exchange hands on a given day and today's volume is recorded at 10471345.

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